Apex industry body CII has hailed the latest notification of the Ministry of Commerce and Industry to increase the initial validity of Industrial License.
of Industrial Policy and Promotion has released Press Note No. 5
(2014 Series) through which Ministry of Commerce and Industry has
sent a strong signal that the Government of India is committed to
enhance ease of doing business in India," said Chandrajit Banerjee,
Director General, CII.
period of validity of Industrial License is being extended from two
years to three years. The Guidelines for extension of the validity of
Industrial licenses are also duly laid down.
License has been one of the biggest pain points of the Indian defence
industry. In various representations to the Government of India, CII
has recommended that Industrial Licenses should be simplified and the
period of validity should be increased.
is heartening to see that for the extension of the Industrial License
the companies are not required to go back to the Licensing Committee.
It would now be done with the approval of the concerned Joint
Secretary of the Administrative Ministry.
expressed hopes that this would help in expeditious clearance of fresh
Industrial License applications and the extension of the existing